Precious metals have been melting down for the last 48 hours.
Every running bull must rest!
Yesterday was the first full day in metals, with 100% of the global precious metals markets open in 2011. The price decreases have been caused by profit taking and reallocation of investments by some investors.
There is also the media putting a finger on better than expected jobs data and a good day for the dollar for reasoning as well. The truth of the matter is that metals will continue the rise in 2011, as nothing has changed in the world. Keep in mind that markets are being propped up by the digitally created $600 billion from QE2. It’s hard not to look good when someone gives you an amount like that to work with. Soon enough it will be time to fold up the monopoly board, put the game away and get back to reality. When that time comes, you really should have some metal.
This c0rrection is healthy and expected as mentioned in a recent post here on PreciousMetalNews.com. The current dips should be looked at as a fire sale on metals and an opportunity for those that have been sitting on the sidelines thinking it was too late to get involved, to do just that.
We’ve been hearing that 10% of an investors portfolio should be in physical metal, with at least 20% exposure overall to precious metals via mining stocks and additional avenues. This seems to be the consensus of all the precious metals dealers we speak with, as well as investors and financial advisors.
Metal is money!
Get your self positioned in front of the next leg up and secure your wealth!
Best of luck in 2011 from us here at PreciousMetalNews.com